Just out of curiosity, why do people think or attempt to give technical analysis on pennystocks? I won't understand this. These trade solely on momentum combined with volume, news, and (of course) earnings. These stocks do NOT trade on TA. There is no 'charting' of penny stocks, does not exist.
This ILIV has been at a realy low volume after that spike, I'm and at a reasonable cost basis, hoping to get some luck with some news just like anybody else trading pennies.